Thursday, July 05, 2007

IRELAND IS A TOP TAX HAVEN FOR U.S. MULTINATIONALS

Ireland is the world's most profitable country for US corporations. In 2002, US companies reported $149 billion of profits in 18 tax-haven countries, up 68 percent from $88 billion in 1999. This compares with a 23 percent increase in total offshore profits earned by US multinationals during the same period-total profits of US multinationals’ foreign subsidiaries around the world stood at $255 billion in 2002.